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A.O.史密斯（AOS）与Mativ Holdings, Inc.（MATV）财务数据对比。点击上方公司名可切换其他公司
A.O.史密斯的季度营收约是Mativ Holdings, Inc.的2.0倍（$945.6M vs $463.1M），Mativ Holdings, Inc.净利率更高（21.8% vs 12.5%，领先9.3%），Mativ Holdings, Inc.同比增速更快（1.0% vs -2.0%），A.O.史密斯自由现金流更多（$118.9M vs $8.0M），过去两年Mativ Holdings, Inc.的营收复合增速更高（-3.8% vs -3.9%）
A.O.史密斯是美国知名的家用及商用热水器、锅炉生产商，也是北美规模最大的热水器制造销售商，在亚洲市场还供应水处理和净化产品。公司在全球共有27个站点，包括北美5座生产基地，以及位于印度班加罗尔、中国南京、荷兰费尔德霍芬的工厂。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
AOS vs MATV — 直观对比
营收规模更大
AOS
是对方的2.0倍
$463.1M
营收增速更快
MATV
高出3.0%
-2.0%
净利率更高
MATV
高出9.3%
12.5%
自由现金流更多
AOS
多$110.9M
$8.0M
两年增速更快
MATV
近两年复合增速
-3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $945.6M | $463.1M |
| 净利润 | $118.0M | $100.8M |
| 毛利率 | 38.7% | 18.8% |
| 营业利润率 | — | 2.2% |
| 净利率 | 12.5% | 21.8% |
| 营收同比 | -2.0% | 1.0% |
| 净利润同比 | -14.0% | 6620.0% |
| 每股收益（稀释后） | $0.85 | $1.87 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AOSMATV
| Q1 26 | $945.6M | — | ||
| Q4 25 | $912.5M | $463.1M | ||
| Q3 25 | $942.5M | $513.7M | ||
| Q2 25 | $1.0B | $525.4M | ||
| Q1 25 | $963.9M | $484.8M | ||
| Q4 24 | $912.4M | $458.6M | ||
| Q3 24 | $902.6M | $498.5M | ||
| Q2 24 | $1.0B | $523.8M |
净利润AOSMATV
| Q1 26 | $118.0M | — | ||
| Q4 25 | $125.4M | $100.8M | ||
| Q3 25 | $132.0M | $-3.2M | ||
| Q2 25 | $152.2M | $-9.5M | ||
| Q1 25 | $136.6M | $-425.5M | ||
| Q4 24 | $109.7M | $1.5M | ||
| Q3 24 | $120.1M | $-20.8M | ||
| Q2 24 | $156.2M | $-1.4M |
毛利率AOSMATV
| Q1 26 | 38.7% | — | ||
| Q4 25 | 38.4% | 18.8% | ||
| Q3 25 | 38.7% | 19.3% | ||
| Q2 25 | 39.3% | 19.7% | ||
| Q1 25 | 38.9% | 15.0% | ||
| Q4 24 | 37.1% | 16.9% | ||
| Q3 24 | 37.4% | 18.8% | ||
| Q2 24 | 38.7% | 20.8% |
营业利润率AOSMATV
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 2.2% | ||
| Q3 25 | 18.6% | 3.1% | ||
| Q2 25 | 20.4% | 3.8% | ||
| Q1 25 | 19.1% | -88.8% | ||
| Q4 24 | 10.1% | 0.6% | ||
| Q3 24 | 19.5% | 1.4% | ||
| Q2 24 | 21.9% | 2.0% |
净利率AOSMATV
| Q1 26 | 12.5% | — | ||
| Q4 25 | 13.7% | 21.8% | ||
| Q3 25 | 14.0% | -0.6% | ||
| Q2 25 | 15.0% | -1.8% | ||
| Q1 25 | 14.2% | -87.8% | ||
| Q4 24 | 12.0% | 0.3% | ||
| Q3 24 | 13.3% | -4.2% | ||
| Q2 24 | 15.2% | -0.3% |
每股收益（稀释后）AOSMATV
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.89 | $1.87 | ||
| Q3 25 | $0.94 | $-0.06 | ||
| Q2 25 | $1.07 | $-0.18 | ||
| Q1 25 | $0.95 | $-7.82 | ||
| Q4 24 | $0.75 | $0.03 | ||
| Q3 24 | $0.82 | $-0.38 | ||
| Q2 24 | $1.06 | $-0.03 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $185.2M | $84.2M |
| 总债务越低越好 | $574.2M | $1.0B |
| 股东权益账面价值 | $1.9B | $498.7M |
| 总资产 | $3.7B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.31× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资AOSMATV
| Q1 26 | $185.2M | — | ||
| Q4 25 | $193.2M | $84.2M | ||
| Q3 25 | $172.8M | $97.1M | ||
| Q2 25 | $177.9M | $95.6M | ||
| Q1 25 | $200.2M | $84.0M | ||
| Q4 24 | $276.1M | $94.3M | ||
| Q3 24 | $255.6M | $162.2M | ||
| Q2 24 | $233.3M | $133.4M |
总债务AOSMATV
| Q1 26 | $574.2M | — | ||
| Q4 25 | $155.0M | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $193.2M | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B |
股东权益AOSMATV
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $498.7M | ||
| Q3 25 | $1.8B | $397.4M | ||
| Q2 25 | $1.8B | $416.6M | ||
| Q1 25 | $1.9B | $428.2M | ||
| Q4 24 | $1.9B | $858.5M | ||
| Q3 24 | $1.9B | $882.3M | ||
| Q2 24 | $1.9B | $898.0M |
总资产AOSMATV
| Q1 26 | $3.7B | — | ||
| Q4 25 | $3.1B | $2.1B | ||
| Q3 25 | $3.2B | $2.0B | ||
| Q2 25 | $3.2B | $2.1B | ||
| Q1 25 | $3.3B | $2.1B | ||
| Q4 24 | $3.2B | $2.4B | ||
| Q3 24 | $3.2B | $2.6B | ||
| Q2 24 | $3.2B | $2.6B |
负债/权益比AOSMATV
| Q1 26 | 0.31× | — | ||
| Q4 25 | 0.08× | 2.07× | ||
| Q3 25 | — | 2.63× | ||
| Q2 25 | — | 2.66× | ||
| Q1 25 | — | 2.67× | ||
| Q4 24 | 0.10× | 1.30× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | — | 1.29× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $118.9M | $8.0M |
| 自由现金流率自由现金流/营收 | 12.6% | 1.7% |
| 资本支出强度资本支出/营收 | 1.1% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.19× |
| 过去12个月自由现金流最近4个季度 | $647.5M | $93.8M |
8季度趋势，按日历期对齐
经营现金流AOSMATV
| Q1 26 | — | — | ||
| Q4 25 | $183.1M | $19.3M | ||
| Q3 25 | $255.4M | $72.8M | ||
| Q2 25 | $139.6M | $57.6M | ||
| Q1 25 | $38.7M | $-15.9M | ||
| Q4 24 | $221.9M | $24.1M | ||
| Q3 24 | $195.9M | $37.6M | ||
| Q2 24 | $57.4M | $46.1M |
自由现金流AOSMATV
| Q1 26 | $118.9M | — | ||
| Q4 25 | $165.5M | $8.0M | ||
| Q3 25 | $240.6M | $66.7M | ||
| Q2 25 | $122.5M | $48.9M | ||
| Q1 25 | $17.4M | $-29.8M | ||
| Q4 24 | $191.3M | $2.0M | ||
| Q3 24 | $163.4M | $25.5M | ||
| Q2 24 | $34.5M | $37.4M |
自由现金流率AOSMATV
| Q1 26 | 12.6% | — | ||
| Q4 25 | 18.1% | 1.7% | ||
| Q3 25 | 25.5% | 13.0% | ||
| Q2 25 | 12.1% | 9.3% | ||
| Q1 25 | 1.8% | -6.1% | ||
| Q4 24 | 21.0% | 0.4% | ||
| Q3 24 | 18.1% | 5.1% | ||
| Q2 24 | 3.4% | 7.1% |
资本支出强度AOSMATV
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.9% | 2.4% | ||
| Q3 25 | 1.6% | 1.2% | ||
| Q2 25 | 1.7% | 1.7% | ||
| Q1 25 | 2.2% | 2.9% | ||
| Q4 24 | 3.4% | 4.8% | ||
| Q3 24 | 3.6% | 2.4% | ||
| Q2 24 | 2.2% | 1.7% |
现金转化率AOSMATV
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | 0.19× | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | 16.07× | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 0.37× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AOS
暂无分部数据
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
